Measuring Conversions

Conversion metrics are among the most important indicators to measure
and monitor. Conversion rates are easy to measure and can be improved
by fine-tuning your website; thus every online business should watch
these numbers and have Plan B ready in case key conversion rates
suddenly plunge.

When you measure conversions you are also looking at abandonment –
the visitors who got away. Maybe they intended to complete an action but
were frustrated during the process and bailed out. Industry average
conversion rates hover around 3 percent. This means only 3 out of 100
visitors complete an intended action.

What conversion rates should you measure? There are three basic
processes that can be measured for conversion versus abandonment:

Each activity should subtly be directing the visitor toward
conversion. Before any further analysis can be done, it is important you
can identify (1) which processes on your website are candidates for
measurement, and (2) how your web analytics solution will achieve these
analyses. Ask yourself the following questions when deciding which
processes to measure. Yes answers indicate that the process is a good
one to measure.

Can visitors contact you if they have difficulty with the process?

Will you be able to collect the appropriate data when visitors complete the process so that you can retain them in the future?

If visitors have difficulty on your site, can they complete a similar process on a competitor site?

Before going into the details of conversion metrics, it is important
to note that you are dealing with two types of conversions, your website
conversions and your marketing campaign conversions.

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